Payment and treasury infrastructure provider Avalo has integrated Convera’s global payments and foreign exchange capabilities into Ionfi by Avalo, enabling participating financial institutions across Latin America to initiate international wire payments through the platform. Under the arrangement, Convera will process payments through its global network and directly onboard participating institutions, while Avalo’s customers continue managing their own customer relationships. The integration aims to help mid-sized financial institutions expand cross-border payment services without independently building and maintaining international banking infrastructure.

Avalo Connects Ionfi Platform to Convera’s Global Payments Network

The integration connects two parts of the cross-border payments process: Avalo’s financial institution-facing infrastructure and Convera’s international payment processing network. Financial institutions using Ionfi will be able to initiate international wire payments through Avalo’s platform, while Convera will handle processing through its global network.

Participating institutions will be onboarded directly by Convera. They will continue managing their own customer relationships under their existing operating models, rather than transferring those relationships to the international payments provider.

This division of responsibilities is central to the partnership. Avalo provides the technology layer through which financial institutions access payment and treasury services, while Convera contributes international payment connectivity and foreign exchange expertise.

The companies are targeting mid-sized financial institutions that want to offer cross-border services without independently establishing the banking relationships, operational capabilities and market coverage needed to support international transfers.

Addressing Infrastructure Barriers in Cross-Border Banking

International payments remain operationally demanding for smaller and mid-sized financial institutions. Supporting transactions across multiple jurisdictions can require correspondent banking relationships, foreign exchange capabilities, compliance processes and access to local payment networks.

The challenge is particularly relevant in Latin America, where financial institutions serve customers involved in international trade, business payments and other cross-border financial activities.

An International Monetary Fund working paper on cross-border payments integration in Latin America and the Caribbean identified high transaction costs, fragmented processes and dependence on intermediary banks as obstacles to regional financial integration. It also highlighted the expense of maintaining correspondent banking relationships across multiple jurisdictions. IMF+1

Avalo’s integration with Convera offers another model for addressing these infrastructure requirements. Instead of building every international payment capability independently, participating institutions can access Convera’s network through the Ionfi platform.

The arrangement could reduce the operational burden associated with establishing and maintaining international payment connectivity. However, the companies have not disclosed specific cost reductions, transaction processing times or improvements in payment transparency resulting from the integration.

How Ionfi and Convera Divide Payment Responsibilities

Ionfi by Avalo is designed to bring payment and treasury workflows together for regulated financial institutions. Avalo describes its platform as connecting institutions to domestic and international money movement capabilities through relationships with FDIC-insured U.S. partner banks.

Its infrastructure also incorporates transaction information, visibility and compliance-related workflows. Avalo says it supports more than 60 financial institutions across more than 20 countries and has processed more than $10 billion in payments. These figures are company-reported.

Convera brings a broader international payment network. The company says its infrastructure includes more than 50 bank partners and over 500 bank accounts, supporting access to more than 140 currencies across 200 countries and territories. Its services also include foreign exchange risk management and commercial payment capabilities. United States – English+1

The integration combines these capabilities within a financial institution-facing operating model. A participating institution can initiate an international wire through Ionfi, while Convera processes the payment.

This model allows the financial institution to retain its customer-facing role while relying on an external specialist for international payment execution. It also illustrates how financial institutions can extend their service portfolios through partnerships rather than developing all payment infrastructure internally.

The announcement does not specify which Latin American countries, currencies or payment corridors will be supported initially. It also does not detail settlement timelines, transaction limits, pricing or the precise foreign exchange services available through the integrated offering.

Embedded Payment Infrastructure Expands the Banking Technology Market

The Avalo-Convera partnership reflects a broader shift in financial services toward modular payment infrastructure.

Banks and other regulated financial institutions increasingly have the option to connect specialised providers for international payments, treasury management, compliance and foreign exchange. This can help institutions expand their offerings while retaining control over customer onboarding, distribution and relationship management.

For technology providers such as Avalo, these integrations strengthen the value of the platform by adding access to specialised financial networks. For international payment providers such as Convera, partnerships with infrastructure companies create additional routes to reach financial institutions and their customers.

The model also highlights the importance of distinguishing payment initiation from payment processing. A platform may provide the interface and workflow through which a financial institution submits a transaction, while a separate provider handles the international payment network and execution.

The commercial value of this arrangement will depend on how effectively the two systems coordinate transaction information, compliance requirements, foreign exchange pricing and payment status updates.

FELABAN 2026 Provides a Regional Launch Platform

Avalo and Convera are presenting the new capabilities to financial institutions during the 60th annual FELABAN Assembly in Lima, Peru, taking place November 3–6, 2026. The event brings together banking executives, financial institutions, regulators and technology providers from across Latin America.

The timing gives both companies an opportunity to engage potential institutional customers as regional banks assess ways to improve international payment services.

For Avalo, the integration expands the capabilities available through Ionfi. For Convera, it adds another distribution relationship through which its global payment and foreign exchange infrastructure can reach financial institutions.

The next test will be implementation: which institutions adopt the service, which corridors become available and whether the integration can deliver measurable improvements in cost, transparency and operational efficiency.

For Latin American financial institutions seeking international reach without building a global payments network themselves, the partnership offers an additional infrastructure option.

Market Landscape

The partnership sits within a growing market for modular cross-border payment infrastructure, where financial institutions combine their own customer-facing systems with specialist international payment networks.

Key developments shaping this segment include:

• Correspondent banking complexity: Maintaining international banking relationships across jurisdictions can create operational and compliance costs for smaller institutions.
• Payment infrastructure partnerships: Banks and fintech infrastructure providers are using integrations to access international payment capabilities without building every component internally.
• Foreign exchange integration: Access to FX services alongside payment processing can help institutions support customers with international transaction requirements.
• Customer relationship ownership: Financial institutions increasingly seek infrastructure partners that expand service capabilities without taking over their customer-facing operations.
• Regional payment connectivity: Latin American financial institutions are exploring ways to improve cross-border financial integration and international payment access.

The Avalo-Convera arrangement addresses these requirements through a combination of platform access and international payment processing. Its impact will depend on market coverage, implementation and adoption by participating institutions.

Top Insights

• Avalo has integrated Convera’s international payment and FX capabilities into Ionfi, expanding cross-border services available to financial institutions across Latin America.
• Financial institutions can initiate international wire payments through Ionfi, while Convera handles processing through its global network.
• Participating institutions will be onboarded directly by Convera but retain their existing customer relationships and operating models.
• Convera’s network provides access to more than 140 currencies and 200 countries and territories, according to the company.
• The integration targets infrastructure complexity faced by mid-sized institutions seeking to expand international payment services.

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